Bglobal plc, the leading provider of smart metering solutions to the energy market has announced its preliminary results for the year ended 31 March 2012.
Highlights
- Revenue of £18.41 million (2011: £28.99 million)
- Recurring revenues increased by 29% to £9.21 million (2011: £7.14 million)
- More than 175,000 smart meters now installed
- DCDA revenues increased by 32% to £3.35 million (2011: £2.53 million)
- Gross margins up to 60% (2011: 45%)
- Adjusted EBITDA of £1.11 million (see note 1) (2011: £4.16 million) (see note 2)
- Adjusted Operating profit £0.67 million (see note 3) (2011: £3.88 million) (see note 4)
- Adjusted Profit before taxation of £0.62 million3 (2011: £3.81 million4)
- Adjusted Profit after taxation of £1.18 million3 (2011: £3.10 million4)
- Earnings per share 1.11p (2011: loss per share 1.51p)
- Net cash generated from operations £1.87 million (2011: £2.32 million)
Notes
1 Before crediting £1.46 million contingent consideration adjustment and £0.04 million in relation to share based payments
2 Before charging £2.91 million contingent consideration adjustment, £0.19 million acquisition costs and £0.14 million in relation to share based payments
3 Before crediting £1.46 million contingent consideration adjustment, £0.04 million in relation to share based payments and before charging amortisation of acquired intangibles of £1.53 million
4 Before charging £2.91 million contingent consideration adjustment, £0.19 million acquisition costs, £0.14 million in relation to share based payments and amortisation of acquired intangibles of £1.28 million
Tim Jackson-Smith, Group Chief Executive of Bglobal, commented: “In the last 12 months the Group has focused on developing its Smart Meter Services Platform, including the ability to offer a SMETS compliant dual fuel metering system, and extending its reach into energy services. We have made great progress on both of these fronts and these initiatives have demonstrated the strengths that each part of our business has and how they set us apart from our competition. The Group has maintained its market leading position in bringing new entrants into the UK energy market, having introduced three companies since the beginning of 2012. The Board is confident that the Group has the resources and ability to play a leading role in the foundation stage of the mass rollout of smart meters and, through the delivery of smart data, to work with our customers to help them use less and pay less for their energy.”
UK, Darwen, Lancashire
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